Good morning, nice people. If you are feeling like the finish line keeps moving, you aren’t alone.

Leading the news this morning: Ankara’s Botas signed a major LNG pact with Woodside, marking its second long-term agreement for US-sourced gas. The agreement is not only about Ankara’s energy security — Turkey already has a big surplus for re-exports — but also about its effort to buy political goodwill in Washington as Turkey navigates what’s next for its Russian energy ties.

ALSO- We also take a deep dive into how MENA ports managed to bulletproof themselves in 2025 against a year of global trade chaos.

Watch this space-

AVIATION — Jazeera Airways moves first: Jordan Airport Company (Jac) is close to securing the first low-cost carrier (LCC) to operate in the soon-to-be-launched Amman City Airport after inking an MoU with Jazeera Airways. The airport — formerly Marka International — is set to launch flights next month, marking its return to commercial operations for the first time since 1983 after recent government upgrades.

This will give the Kuwaiti LCC a head start over competitors — which have reportedly been in talks with Jac to secure slots in the airport — including Air Cairo, Wizz Air, Ryanair, and Flynas.

REMEMBER- Jac’s strategy for the airport will be LCC-focused: With a capacity to accommodate 1 mn passengers annually and infrastructure well-suited for narrow-body jets, Jac is positioning the airport as a low-cost, short-haul alternative to Queen Alia International. The Jordanian airport operator is expected to offer lower operational fees to attract LLCs, while pitching the airport as a secondary hub suitable for domestic and feeder regional flights.

TRADE — Egypt might supply Lebanon’s Deir Ammar Power Plant with natural gas under an MoU inked between the two countries’ oil ministries, according to a statement. The agreement is the latest in Egypt’s efforts to become a regional energy hub and signals the government’s seriousness about the country once again becoming a net exporter of natural gas.

There are some logistical hurdles to overcome: The gas will likely be pumped through the Arab Gas Pipeline that links Egypt to Jordan’s Aqaba before heading to Syria, then Lebanon. However, for flows to proceed, rehabilitating portions of the pipeline would be necessary, The National reported, citing the Lebanese Energy Minister Joe Saddi. A feasibility study assessing the costs of rehabilitation could be concluded within the next four months, Saddi added.

Market watch-

Oil prices eased slightly this morning — despite ongoing concerns over Ukraine-Russia supply risks, Reuters reports. Brent crude futures dipped by USD 0.21 to trade at USD 61.73 / bbl as of 01:50 GMT, while US West Texas Intermediate (WTI) slipped by USD 0.19 to USD 57.88 / bbl.

FROM SAUDI- The Kingdom might cut crude oil export prices to Asia for the third consecutive month in February, unnamed sources told Reuters, citing weaker demand in spot markets amid rising supply. Refiners expect a drop in Arab Light prices of USD 0.10-0.30 per bbl, lowering premiums to USD 0.30-0.50 above the Oman/Dubai benchmark, extending the USD 0.60 per bbl loss from January.

By the numbers: Arab Extra Light crude may fall by USD 0.10-0.20, while Arab Medium and Arab Heavy grades could remain unchanged or dip by USD 0.10.

Estimates of oil prices have been in limbo as Opec+ spent the better half of the year unwinding cuts, and the International Energy Agency has been warning of a glut. Check our recent Year in Review story on the diverging outlooks for oil markets in 2026.

Data point-

13% — this was the y-o-y growth rate for Egyptian food industry exports in the first 11 months of 2025, pushing the value of the sector’s exports to a record USD 6.3 bn, up from the USD 5.6 bn recorded in 2024. The sector now accounts for 14% of Egypt’s total non-oil exports, holding its position as the country’s third-largest export category.

This means demand for cold-chain logistics has also likely gone up, sharpening the case for cold-chain investments in the country. You can dig deeper on why cold-chain storage in Egypt could be a smart investment in our explainer here.

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